Infrastructure developer Dilip Buildcon on Friday reported 33.41 per cent dip in consolidated net profit to Rs 17.18 crore for the second quarter ended September 30. The company had clocked a net profit of Rs 25.80 crore in the corresponding quarter previous fiscal. Its total income for the quarter rose to Rs 2,197.73 crore from Rs 1,997.48 crore in the year-ago period. The total expenses during the quarter under review increased to Rs 2,140.47 crore as against Rs 1,953.66 crore a year ago. The company said its Q2FY21 revenue from the roads and bridges segment inched up by 1 per cent on a year-on-year basis to Rs 1,603.4 crore. Irrigation segment recorded the revenue of Rs 18.1 crore during the quarter ended September 30, 2020, it added. The urban development segment recorded revenue of Rs 57.9 crore during the quarter ended September 30. Q2FY21 revenue from mining segment rose 4 per cent y-o-y to Rs 205.7 crore. The net order book as on September 30, stands at Rs 25,620.6 cror
The project is to be completed in 24 months and its operation period is 15 years from the COD
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The project's completion period is 50 months
MEP Infrastructure was up around 4.5 per cent to Rs 18.70 on the BSE.
The bid project cost is Rs 4,167.70 crore with completion period of 48 months and maintenance period of 10 years
The Rs 1,900 crore road project, which will include a four-lane bridge over the Ganga river, will connect Sahibganj bypass in Jharkhand to Manihari bypass in Bihar
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Highways builder Dilip Buildcon on Friday said it has won an Rs 882-crore project in Gujarat from the National Highways Authority of India (NHAI). The project will be executed in the hybrid annuity mode (HAM). "Dilip Buildcon Limited has been declared as L-1 (lowest) bidder for a new HAM project viz. four-laning of the Dhrol-Bhadra-Patiya section and the Bhadra-Patiya-Pipalia section of NH151 in Gujarat," the company said in a regulatory filing to the BSE. The company said the bid cost of the project is Rs 882 crore. It said the project will be developed on the public-private partnership basis.
Shares of the company were trading at Rs 248.20 a piece on BSE in the morning trade
The project entails the development of Bundelkhand Expressway (package-VI) from Bakhariya to Kudrail in Uttar Pradesh.
The project which is 45.28 km in length is to be completed in three years, the filing said.
Earlier, on October 30, the company informed the exchanges that NHAI has fixed October 24 as the appointment date for its wholly-owned subsidiary for construction of a highway under Bharatmala
The move is expected to strengthen its balance sheet and improve new project visibility
On a year-to-date (YTD) basis, shares of Dilip Buildcon have slipped 8 per cent while the benchmark S&P BSE Sensex has gained over 2.50 per cent.
The stock slipped 14% to Rs 901 on the BSE in intra-day trade after the company reported 11% YoY growth in its consolidated net profit at Rs 2.18 billion in March 2018 quarter.
The company had said last month it has bagged two projects worth Rs 44.73 billion to be constructed under hybrid annuity mode
Shakti Pumps (India) has moved higher by 8% to Rs 703, surging 26% in past one week on the BSE.
The stock surged 12% to Rs 1,122, also its new high on the BSE, in intra-day trade.
In Maharashtra, the task is four-laning of three road sections of National Highway 166, the company added